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Felderer, Bernhard and Ritzberger, Klaus (November 1991) family allowances as pareto improvements. Former Series > Forschungsberichte / Research Memoranda 290
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Abstract
abstract: the present paper studies the equilibria of a simple overlapping generations model of pure exchange in which money is traded. there is a continuum of agents in each generation and population growth is endogenous via voluntary decisions on children . any monetary steady state has to satisfy the "golden rule" that the interest rate equals the growth rate. still such a monetary steady state is pareto-inefficient. it can be shown that there exists a transfer scheme in favor of those, who raise children, which pareto-improves upon any steady state.;
| Item Type: | IHS Series |
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| Date Deposited: | 26 Sep 2014 10:35 |
| Last Modified: | 01 Apr 2016 14:08 |
| URI: | https://irihs.ihs.ac.at/id/eprint/612 |
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